Financial Performance - The company's operating revenue for Q3 2025 reached ¥242,253,257.59, an increase of 64.75% compared to the same period last year[3] - The total profit for the quarter was ¥19,361,831.50, reflecting a growth of 2.76% year-on-year[3] - The net profit attributable to shareholders was ¥19,232,324.95, which is a 21.79% increase compared to the previous year[3] - The net profit after deducting non-recurring gains and losses was ¥14,673,641.13, up by 21.81% year-on-year[3] - Total operating revenue for the first three quarters of 2025 was CNY 741,647,741.89, a slight decrease of 0.58% compared to CNY 745,078,398.20 in the same period of 2024[17] - Net profit for the first three quarters of 2025 was CNY 76,994,734.04, representing a decrease of 8.5% from CNY 84,245,456.37 in the same period of 2024[19] - Earnings per share for the first three quarters of 2025 was CNY 0.71, compared to CNY 0.78 in the previous year[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,231,149,758.12, representing a 9.01% increase from the end of the previous year[4] - The company's total current assets as of September 30, 2025, amount to ¥2,102,425,518.38, an increase from ¥1,824,327,403.94 as of December 31, 2024[13] - The total assets of the company as of September 30, 2025, are ¥2,231,149,758.12, compared to ¥2,046,652,930.39 at the end of 2024[14] - Total liabilities as of September 30, 2025, amounted to CNY 873,242,140.13, compared to CNY 737,678,457.06 at the end of 2024[15] - The company's total current liabilities are reported at ¥867,270,333.70, an increase from ¥729,988,518.70[14] Shareholder Information - The equity attributable to shareholders increased to ¥1,357,907,617.99, a rise of 3.74% compared to the previous year[4] - The total number of common shareholders at the end of the reporting period is 16,586[10] - The largest shareholder, Fang Qingxi, holds 46,300,000 shares, representing 42.71% of total shares[10] - Total equity attributable to shareholders as of September 30, 2025, was CNY 1,357,907,617.99, up from CNY 1,308,974,473.33 at the end of 2024[15] Cash Flow - The net cash flow from operating activities increased due to higher cash receipts from sales and reduced material costs[8] - Cash received from sales of goods and services in the first three quarters of 2025 was CNY 863,723,529.57, an increase of 15.2% from CNY 749,344,656.26 in the same period of 2024[20] - Net cash inflow from operating activities for the first three quarters of 2025 was ¥65,604,297.89, compared to a net outflow of ¥83,658,020.30 in the same period of 2024[21] - Total cash inflow from investment activities increased significantly to ¥3,541,986,289.83 in 2025 from ¥2,155,455,067.77 in 2024[21] - Net cash outflow from investment activities for the first three quarters of 2025 was ¥197,359,912.07, worsening from a net outflow of ¥29,176,363.74 in 2024[22] - Cash and cash equivalents at the end of Q3 2025 stood at ¥91,865,595.92, up from ¥51,038,083.50 in Q3 2024[22] Costs and Expenses - Total operating costs for the first three quarters of 2025 were CNY 670,665,443.92, down 0.57% from CNY 677,053,706.82 in the previous year[18] - Research and development expenses for the first three quarters of 2025 were CNY 66,349,920.05, an increase of 9.1% from CNY 60,686,818.13 in the same period of 2024[18] - Cash paid for employee compensation rose to ¥153,046,066.36 in 2025, compared to ¥140,749,234.66 in 2024[21] - Cash paid for taxes decreased to ¥36,471,105.33 in 2025 from ¥40,376,595.50 in 2024[21] - Cash paid for purchasing goods and services was ¥540,577,519.68 in 2025, slightly down from ¥562,114,800.29 in 2024[21] Other Information - Non-recurring gains and losses for the quarter totaled ¥4,558,683.82, with a cumulative amount of ¥16,924,322.70 for the year-to-date[7] - The increase in operating revenue was primarily due to an increase in contract amounts recognized in Q3[8] - The company has no significant changes in the shareholding structure or any related party transactions reported during the period[11] - The company will implement new accounting standards starting in 2025, which may affect the financial statements[23]

Financial Performance - The company's operating revenue for Q3 2025 reached CNY 10,000,398,626.79, representing an 18.01% increase year-over-year[4]. - The total profit for the period was CNY 1,280,393,714.44, showing a 2.66% increase compared to the same period last year[4]. - The net profit attributable to shareholders was CNY 1,040,757,510.14, a decrease of 4.71% year-over-year[4]. - Total operating revenue for the first three quarters of 2025 reached ¥27.59 billion, a 16.5% increase from ¥23.63 billion in the same period of 2024[17]. - Net profit for the first three quarters of 2025 was ¥2.95 billion, down 10.5% from ¥3.30 billion in the first three quarters of 2024[18]. - Operating profit for the first three quarters of 2025 was ¥3.43 billion, a decrease of 7.2% compared to ¥3.70 billion in the same period of 2024[17]. Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 2,506,202,818.18, reflecting a significant increase of 72.55%[4][9]. - The company experienced a 72.55% increase in cash flow from operating activities due to higher cash receipts from sales[9]. - Cash flow from operating activities generated a net amount of ¥2.51 billion, an increase of 72.5% from ¥1.45 billion in the first three quarters of 2024[19]. - The company experienced a net cash outflow from investing activities of ¥3.56 billion in the first three quarters of 2025, compared to a net outflow of ¥2.50 billion in the same period of 2024[20]. Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 45,825,323,443.63, which is a 13.75% increase from the end of the previous year[5]. - The total assets of Sairun Group Co., Ltd. as of September 30, 2025, amounted to RMB 45.83 billion, an increase from RMB 40.28 billion as of December 31, 2024, representing a growth of approximately 13.7%[15]. - Current assets totaled RMB 21.03 billion, up from RMB 19.50 billion, indicating an increase of about 7.8% year-over-year[15]. - Total liabilities increased to RMB 23.03 billion from RMB 19.71 billion, marking an increase of about 16.7%[16]. - The total non-current assets amounted to RMB 24.79 billion, an increase from RMB 20.78 billion, representing a growth of about 19.4%[15]. Shareholder Equity - The weighted average return on equity decreased to 4.95%, down by 0.98 percentage points compared to the previous year[5]. - The total equity attributable to shareholders was CNY 21,068,026,032.59, an increase of 7.99% year-over-year[5]. - The company's equity attributable to shareholders reached RMB 21.07 billion, up from RMB 19.51 billion, which is an increase of approximately 8%[16]. Earnings and Expenses - The company reported a basic earnings per share of CNY 0.32, a decline of 5.88% from the same period last year[5]. - The basic earnings per share for the first three quarters of 2025 was ¥0.88, down from ¥1.01 in the same period of 2024[18]. - Research and development expenses increased to ¥816.67 million in the first three quarters of 2025, up 10.8% from ¥736.94 million in the same period of 2024[17]. - The company reported a decrease in investment income to ¥22.39 million in the first three quarters of 2025, compared to ¥102.26 million in the same period of 2024[17]. Other Financial Metrics - Non-recurring gains and losses for the period totaled CNY 43,710,473.04, with significant contributions from government subsidies and asset disposals[7]. - The company's cash and cash equivalents decreased to RMB 4.83 billion from RMB 5.52 billion, a decline of approximately 12.5%[15]. - Accounts receivable rose significantly to RMB 6.76 billion, compared to RMB 4.79 billion, reflecting a growth of around 41%[15]. - Inventory levels remained stable at RMB 6.58 billion, slightly up from RMB 6.52 billion, indicating a marginal increase of about 0.8%[15]. - The company reported a significant increase in long-term borrowings, which rose to RMB 4.94 billion from RMB 3.37 billion, reflecting a growth of approximately 46%[16]. - Total assets impairment loss for the first three quarters of 2025 was ¥139.96 million, slightly higher than ¥136.46 million in the same period of 2024[17].

Financial Performance - The company's revenue for Q3 2025 was ¥840,378,699.57, a decrease of 0.55% compared to the same period last year[5] - Total profit for the quarter was ¥3,077,986.13, down 85.16% year-over-year[5] - Net profit attributable to shareholders was ¥393,681.01, reflecting a significant decline of 97.17% compared to the previous year[5] - Basic earnings per share were reported at ¥0.00, down 97.19% year-over-year[6] - The net profit for the year-to-date period was 114 million RMB, a year-on-year decrease of 29.40%, equating to a reduction of 47.52 million RMB[19] - The company reported a net profit margin improvement, with net profit for the first three quarters of 2025 showing resilience despite revenue decline[28] - Net profit for the first three quarters of 2025 was CNY 114,116,471.41, a decrease of 29.4% compared to CNY 161,632,937.57 in the same period of 2024[30] - Operating profit for the first three quarters of 2025 was CNY 149,909,703.81, down from CNY 211,880,731.07 in the previous year, reflecting a decline of 29.2%[30] - Total comprehensive income for the first three quarters of 2025 was CNY 114,741,681.84, down from CNY 161,094,268.49 in the same period of 2024[30] Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of ¥55,496,431.66, a decrease of 62.08% from the same period last year[5] - The company's cash and cash equivalents as of September 30, 2025, were CNY 367,255,924.83, down from CNY 791,793,318.22 at the end of 2024[23] - Cash flow from operating activities generated a net cash flow of CNY 142,016,235.00, significantly lower than CNY 374,469,335.83 in the previous year[31] - The company incurred a net cash outflow from financing activities of CNY 451,876,140.16, compared to a net outflow of CNY 466,269,451.88 in the same period of 2024[32] - The company’s total operating cash inflow was CNY 2,992,935,229.75, a decrease from CNY 3,051,153,882.11 in the previous year[31] - The company’s total cash outflow from operating activities was CNY 2,850,918,994.75, compared to CNY 2,676,684,546.28 in the same period of 2024[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,775,698,526.43, a decrease of 2.43% from the previous year[6] - The company's total assets decreased to CNY 5,775,698,526.43 as of September 30, 2025, from CNY 5,919,697,328.68 at the end of 2024[26] - Total liabilities decreased to CNY 2,139,858,120.23 as of September 30, 2025, from CNY 2,303,512,496.86 at the end of 2024, reflecting improved financial health[25] - The company's equity attributable to shareholders increased slightly to CNY 3,635,840,406.20 as of September 30, 2025, from CNY 3,616,184,831.82 at the end of 2024[26] Revenue Breakdown - The main business revenue for the TEENIE WEENIE brand decreased by 2.30% year-on-year, while the IP licensing business revenue increased by 71.57%[20] - The main business revenue for the VGRASS brand decreased by 12.67% year-on-year[20] - The total main business revenue for the company was 2.79 billion RMB, with a gross margin of 68.33%, down 0.80 percentage points year-on-year[18] - Total operating revenue for the first three quarters of 2025 was CNY 2,833,907,465.05, a decrease of 3.06% compared to CNY 2,922,553,915.85 in the same period of 2024[28] Store Operations - The number of new stores opened for the VGRASS brand was 9, while 10 stores were closed, resulting in a total of 189 stores[15] - The total number of stores for the company decreased by 5.76% year-on-year, from 1,250 to 1,178 stores[15] - The average monthly sales revenue for new VGRASS stores was 205,000 RMB, while for old stores it was 316,900 RMB[19] - The average selling price for VGRASS increased by 1.7% to 3,415 RMB, while TEENIE WEENIE's average selling price increased by 2.3% to 762 RMB[19] Expenses - Total operating costs for the first three quarters of 2025 were CNY 2,706,119,702.81, down from CNY 2,730,797,126.38 in 2024, reflecting a cost reduction strategy[28] - Sales expenses amounted to CNY 1,490,817,780.86 in 2025, compared to CNY 1,521,139,481.59 in 2024, indicating a decrease of approximately 2.00%[28] - Research and development expenses increased to CNY 99,107,658.04 in 2025 from CNY 97,286,190.99 in 2024, showing a commitment to innovation[28] Impairment and Inventory - The company reported a 130.07% increase in asset impairment losses, primarily due to higher inventory write-downs compared to the previous year[10] - Inventory levels rose to CNY 1,304,740,962.85 as of September 30, 2025, compared to CNY 1,028,459,459.26 at the end of 2024, indicating potential market expansion[23] Government Subsidies - The company experienced a decrease in government subsidies, which contributed to a net profit reduction of 13.38 million RMB year-on-year[19]

Revenue and Profit Growth - The company's revenue for Q3 2025 reached CNY 257.13 million, an increase of 22.46% compared to the same period last year[3]. - Total profit for Q3 2025 was CNY 53.14 million, representing a significant increase of 2,725.55% year-on-year[6]. - Net profit attributable to shareholders for Q3 2025 was CNY 44.46 million, up 1,558.82% from the previous year[6]. - The net profit excluding non-recurring gains and losses for Q3 2025 was CNY 40.07 million, an increase of 515.11% year-on-year[6]. - For the first three quarters of 2025, the company achieved a revenue of RMB 671 million, representing a year-on-year growth of 22.01%[12]. - Sales revenue from core business products, chromatography fillers and media, reached RMB 398 million, an increase of 26.02% year-on-year[12]. - Net profit attributable to shareholders for the first three quarters was RMB 108 million, a significant increase of 156.56% year-on-year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 95 million, reflecting a growth of 254.66% year-on-year[12]. - Operating profit for the first nine months was ¥127,159,081.00, significantly higher than ¥46,121,451.81 in the previous year, reflecting a growth of 175.56%[19]. - Net profit for the period was ¥112,353,037.06, compared to ¥41,282,330.84 in the same period last year, marking an increase of 172.56%[20]. Assets and Liabilities - The company's total assets as of the end of Q3 2025 were CNY 2,341.09 million, a 1.36% increase from the end of the previous year[4]. - As of September 30, 2025, total current assets were RMB 1.165 billion, a decrease from RMB 1.220 billion at the end of 2024[13]. - The company's total assets increased to ¥2,341,085,949.08, up from ¥2,309,596,977.25, indicating a growth of 1.36%[15]. - Total liabilities decreased to ¥309,127,160.54 from ¥421,525,181.46, a reduction of 26.67%[15]. - The equity attributable to shareholders rose to ¥1,874,652,045.18, compared to ¥1,748,425,906.69, reflecting an increase of 7.21%[15]. Cash Flow and Expenses - The net cash flow from operating activities for the year-to-date period was CNY 52.79 million, an increase of 75.26% compared to the same period last year[6]. - The weighted average return on equity for the year-to-date period was 5.94%, an increase of 3.47 percentage points compared to the previous year[3]. - Research and development expenses for the first nine months were ¥146,969,311.43, up from ¥128,692,421.83, indicating a growth of 14.19%[19]. - The company reported a decrease of 7.13% in share-based payment expenses, amounting to RMB 43 million for the current period[12]. - Net cash flow from operating activities for the first three quarters of 2025 is 52,794,048.56 CNY, up from 30,123,285.58 CNY in the same period of 2024, indicating a growth of approximately 75.5%[21]. - Total cash inflow from operating activities in the first three quarters of 2025 is 634,344,781.15 CNY, compared to 485,242,516.94 CNY in 2024, reflecting an increase of about 30.7%[21]. - Cash outflow from operating activities increased to 581,550,732.59 CNY in 2025 from 455,119,231.36 CNY in 2024, which is an increase of approximately 27.8%[21]. - Net cash flow from investing activities for the first three quarters of 2025 is 18,147,650.44 CNY, down from 41,235,132.69 CNY in 2024, showing a decline of about 56.0%[22]. - Cash inflow from investing activities decreased to 351,470,683.40 CNY in 2025 from 501,561,954.91 CNY in 2024, a decrease of approximately 30.0%[22]. - Cash outflow from investing activities decreased to 333,323,032.96 CNY in 2025 from 460,326,822.22 CNY in 2024, reflecting a decrease of about 27.6%[22]. - Net cash flow from financing activities for the first three quarters of 2025 is -104,886,262.22 CNY, an improvement from -156,748,958.15 CNY in 2024[22]. - The ending balance of cash and cash equivalents as of September 2025 is 237,081,341.65 CNY, down from 253,545,589.55 CNY in the same period of 2024[22]. Earnings Per Share - Basic earnings per share for Q3 2025 were CNY 0.1109, up 1,559.21% year-on-year[6]. - Basic earnings per share (EPS) for the first three quarters of 2025 is 0.2689 CNY, compared to 0.1045 CNY in the same period of 2024, representing a significant increase[21]. Strategic Focus - The company continues to focus on optimizing resource allocation and cost control, contributing to significant profit growth[6]. - The company’s long-term equity investments rose to RMB 33 million, compared to RMB 22 million at the end of 2024, suggesting a strategic focus on long-term growth[13]. Accounting Standards - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year of first execution[23].

Financial Performance - The company's operating revenue for Q3 2025 was CNY 2,220,332,878.97, a decrease of 7.31% compared to the same period last year[4] - The total profit for the period was CNY 103,458,766.70, down 41.21% year-on-year[4] - The net profit attributable to shareholders was CNY 90,794,148.73, reflecting a decline of 43.71% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was CNY 69,363,053.53, a decrease of 54.30% year-on-year[4] - The basic earnings per share for the period was CNY 0.07, down 41.67% from the same period last year[5] - Total operating revenue for the first three quarters of 2025 was CNY 6,808,510,118.70, a decrease of 8.6% compared to CNY 7,451,957,523.48 in the same period of 2024[22] - Net profit for the first three quarters of 2025 was CNY 315,917,744.54, a decline of 33.4% compared to CNY 474,035,790.88 in 2024[24] - Operating profit for the first three quarters of 2025 was CNY 334,665,387.67, down 33.7% from CNY 505,296,483.63 in 2024[23] - Earnings per share for the first three quarters of 2025 was CNY 0.22, compared to CNY 0.33 in the same period of 2024[24] Assets and Liabilities - The total assets at the end of the period were CNY 14,507,246,985.94, an increase of 0.64% from the end of the previous year[5] - As of September 30, 2025, the total assets of Jiangsu Province Agricultural Development Co., Ltd. amounted to CNY 14,507,246,985.94, an increase from CNY 14,415,326,764.59 as of December 31, 2024[17] - The company's current assets totaled CNY 7,918,208,126.71, compared to CNY 7,667,577,645.89 in the previous year, reflecting a growth of approximately 3.26%[18] - The total liabilities reached CNY 2,802,394,824.61, compared to CNY 2,395,688,324.18 in the previous year, representing an increase of approximately 16.93%[19] - Total liabilities as of the end of the reporting period were CNY 7,458,039,819.70, an increase from CNY 7,132,417,342.89[20] - Total equity attributable to shareholders was CNY 6,793,014,315.17, a decrease from CNY 6,864,489,746.76 in the previous year[20] Cash Flow - The company reported a net cash flow from operating activities of CNY 787,831,015.91, an increase of 113.73% year-on-year[4] - Cash flow from operating activities for the first three quarters of 2025 was CNY 787,831,015.91, an increase from CNY 368,605,680.77 in 2024[25] - Net cash flow from investment activities was 204,965,542.03, a decrease from 603,045,870.32 in the previous period, indicating a decline of approximately 66.0%[26] - Total cash inflow from investment activities was 5,502,305,631.13, down from 8,401,906,654.96, representing a decrease of about 34.5%[26] - Cash outflow from financing activities totaled 1,002,442,136.31, compared to 900,073,956.80 in the previous period, showing an increase of approximately 11.5%[26] - Net cash flow from financing activities was -902,524,898.20, worsening from -803,817,782.80, reflecting a decline of around 12.5%[26] - The ending balance of cash and cash equivalents was 702,873,221.07, down from 782,322,439.09, indicating a decrease of about 10.2%[26] - Cash received from loans was 99,917,238.11, slightly up from 96,256,174.00, marking an increase of approximately 2.8%[26] - Cash paid for dividends and interest was 289,380,000.00, down from 416,367,074.72, representing a decrease of about 30.5%[26] - Cash paid for the acquisition of fixed assets was 348,114,718.21, compared to 456,830,955.86 in the previous period, indicating a decrease of approximately 23.7%[26] Production and Sales - The production volume of self-produced wheat was 64.25 million tons, with a sales volume of 29.30 million tons, reflecting a production increase of 0.79% year-on-year[12] - The sales volume of rice increased by 61.24% year-on-year, reaching 13.44 million tons[12] Equity and Investments - The company's total equity increased to CNY 11,704,852,161.33, up from CNY 11,019,638,440.41, indicating a growth of about 6.22%[19] - The company's long-term equity investments remained stable at CNY 3,500,560.35, unchanged from the previous year[18] - The total non-current assets were reported at CNY 6,589,038,859.23, a decrease from CNY 6,747,749,118.70, reflecting a decline of approximately 2.35%[19] Accounting Standards - The company will not apply new accounting standards starting from 2025[27]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥538,149,580.56, representing a year-on-year increase of 9.55%[3] - Total profit for the period was ¥60,048,442.39, a significant increase of 395.62% compared to the same period last year[3] - Net profit attributable to shareholders was ¥34,078,594.74, reflecting a year-on-year growth of 255.83%[3] - Basic earnings per share for the period were ¥0.18, an increase of 260.00% compared to the same period last year[3] - Net profit for the first three quarters of 2025 was CNY 120,884,510.35, a significant increase of 80.4% compared to CNY 67,069,360.44 in 2024[19] - Earnings per share for the first three quarters of 2025 were CNY 0.45, compared to CNY 0.16 in the same period of 2024, marking an increase of 181.25%[20] - The company reported a total comprehensive income of CNY 120,892,067.87 for the first three quarters of 2025, compared to CNY 66,955,270.27 in 2024, an increase of 80.7%[20] Cash Flow - The net cash flow from operating activities was -¥49,269,346.77, indicating a decline of 123.25% compared to the previous year[3] - In the first three quarters of 2025, the cash inflow from operating activities totaled approximately $1.45 billion, an increase from $1.41 billion in the same period of 2024[22] - The net cash outflow from operating activities was approximately -$380 million, compared to -$113.66 million in the previous year, indicating a significant decline in operational cash flow[23] - The cash inflow from investment activities was approximately $411.87 million, while cash outflow was about $391.67 million, resulting in a net cash inflow of approximately $20.20 million[23] - The total cash and cash equivalents at the end of Q3 2025 were approximately $997.54 million, down from $1.02 billion at the end of Q3 2024[24] - The company reported a cash outflow from financing activities of approximately -$98.30 million, compared to -$89.32 million in the same period last year[23] - The cash received from sales of goods and services was approximately $1.31 billion, slightly down from $1.36 billion in the previous year[22] - The company paid approximately $448.62 million in employee compensation, an increase from $436.06 million in the same period of 2024[23] - The company received approximately $18.89 million in tax refunds, significantly higher than $8.03 million in the previous year[22] - The cash outflow for purchasing fixed assets and other long-term assets was approximately $16.07 million, a decrease from $90.37 million in the same period of 2024[23] - The impact of exchange rate changes on cash and cash equivalents was a positive $32.89 thousand, contrasting with a negative impact of -$121.68 thousand in the previous year[24] Research and Development - Research and development expenses totaled ¥82,041,616.02, accounting for 15.25% of operating revenue, an increase of 3.34 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2025 amounted to CNY 199,561,197.84, up from CNY 171,221,724.09 in 2024, indicating a growth of 16.5%[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,376,663,107.74, up 2.75% from the end of the previous year[4] - Total current assets as of September 30, 2025, amount to ¥4,886,617,693.10, an increase from ¥4,682,094,505.90 as of December 31, 2024[13] - Accounts receivable increased to ¥2,144,610,635.39 from ¥1,474,624,875.09 year-over-year[13] - Inventory stands at ¥852,051,566.64, compared to ¥830,087,985.33 in the previous period[14] - Total liabilities as of the end of the reporting period were CNY 3,583,290,061.66, an increase from CNY 3,475,077,799.51 in the previous year, reflecting a rise of 3.12%[16] - Total equity attributable to shareholders of the parent company was CNY 2,595,323,632.96, up from CNY 2,551,978,290.20, representing a growth of 1.69%[16] - Non-current assets total ¥1,490,045,414.64, a slight decrease from ¥1,524,046,241.45[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,022[11] - The largest shareholder, Beijing Infrastructure Investment Co., Ltd., holds 31,978,822 shares, representing 16.95% of total shares[11] - The company has no significant changes in the top 10 shareholders or their shareholding status due to margin trading[12] - The company reported no related party transactions among the disclosed shareholders[12] Future Outlook - The company expects continued growth in revenue and profitability driven by personalized customer demands and competitive market conditions[8] Investment Performance - The company experienced a financial loss from investments amounting to CNY 9,239,449.67 in the first three quarters of 2025, compared to a loss of CNY 7,399,809.34 in 2024[19] - The company’s deferred income tax liabilities increased to CNY 1,506,762.30 from CNY 499,358.88, indicating a rise of 201.4%[16]

Revenue and Profit - Revenue for Q3 2025 reached ¥222,495,427.43, an increase of 7.38% year-over-year, while year-to-date revenue was ¥681,986,099.80, up 14.71% compared to the same period last year[5] - Net profit attributable to shareholders was a loss of ¥1,486,290.50, a decrease of 107.85% year-over-year, and year-to-date net profit was ¥18,053,849.45, down 59.10%[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥3,903,085.55 for the quarter, a decrease of 128.19% year-over-year, with year-to-date figures showing a decline of 66.44%[5] - Operating profit decreased to ¥22,549,693.95 from ¥53,102,492.58, showing a decline of approximately 57.6%[22] - The net profit for the current period is 18,053,849.45, a decrease from 44,139,127.93 in the previous period, representing a decline of approximately 59%[23] - Total comprehensive income for the current period is 24,902,124.01, down from 50,927,146.87, indicating a decrease of about 51%[23] - Basic and diluted earnings per share are both 0.10, compared to 0.24 in the previous period, reflecting a decline of 58.33%[23] Cash Flow and Assets - Operating cash flow for the year-to-date period increased by 188.39% to ¥78,256,463.27, attributed to optimized sales strategies and increased use of bank acceptance bills for procurement[9] - Cash flow from operating activities generated a net amount of 78,256,463.27, an increase from 27,135,900.82, showing a growth of approximately 188%[26] - Cash inflow from investment activities totaled 1,913,482,738.58, significantly higher than 816,704,923.20 in the previous period, marking an increase of about 134%[26] - Cash outflow from investment activities was 2,009,301,642.72, compared to 917,163,804.00 previously, indicating an increase of approximately 119%[26] - The net cash flow from financing activities was -2,802,599.93, an improvement from -37,323,298.74 in the previous period[26] - The ending cash and cash equivalents balance is 121,485,753.08, down from 207,387,243.97, a decrease of about 41.3%[26] - Total assets at the end of the reporting period were ¥1,516,190,384.95, reflecting a 1.63% increase from the end of the previous year[5] - Current assets totaled ¥916,393,167.57, down from ¥958,222,753.32, a decrease of approximately 4.4%[21] - Cash and cash equivalents decreased to ¥122,485,753.08 from ¥211,692,775.21, a decline of about 42.1%[20] - Inventory increased to ¥181,046,329.57 from ¥167,640,977.44, reflecting a growth of approximately 8.0%[20] - Total liabilities rose to ¥455,975,003.03 from ¥451,327,387.36, an increase of about 1.5%[21] - The company's equity attributable to shareholders increased to ¥1,060,215,381.92 from ¥1,040,548,371.70, a growth of approximately 1.9%[22] Expenses and Costs - Total operating costs amounted to ¥651,698,068.33, up from ¥538,667,709.57, indicating a rise of about 20.9%[22] - Increased human resource costs due to talent acquisition and team building efforts, alongside rising average wages, contributed to the profit decline[9] - The company faced pressure on profit margins due to increased market competition and a decline in overall gross margin[9] - Research and development expenses for the current period were ¥46,631,644.04, compared to ¥36,437,537.40 in the previous period, indicating an increase of about 27.9%[22] Shareholder Information - Shareholder equity attributable to shareholders was ¥1,060,215,381.92, up 1.89% from the previous year-end[5] - The company implemented an equity incentive plan during the reporting period, significantly impacting current expenses[9] - The company plans to grant 1.67 million restricted stocks to 28 incentive objects at a price of 10.02 CNY per share on August 14, 2025[16] - The company adjusted the grant price of the 2024 restricted stock incentive plan from 6.78 CNY to 6.68 CNY per share[17] - The total number of restricted shares held by major shareholders at the end of the reporting period is 113,803,525 shares, with 3,600 shares released from restrictions during the period[15] - The company’s major shareholders include Gong Zhiqiang, who holds 90 million shares, and several other limited partners with significant holdings[14] - The company’s top ten shareholders include individuals with substantial holdings, such as Sun Feng with 597,058 shares and Zhao Qin with 589,987 shares[12] - The company has not disclosed any other related party relationships among shareholders beyond those mentioned[12] - The company’s major shareholders have participated in margin trading, with specific holdings reported through various accounts[12] - The company has a total of 113,514,625 restricted shares at the beginning of the period, with changes in the number of restricted shares due to executive lock-up agreements[15] Non-Recurring Gains and Other Income - Non-recurring gains totaled ¥2,416,795.05 for the quarter, with government subsidies and financial asset fair value changes being significant contributors[7] - Other comprehensive income after tax for the current period is 6,848,274.56, slightly up from 6,788,018.94, showing a marginal increase of about 0.89%[23] Audit and Compliance - The company has not undergone an audit for the third quarter financial report[28]

Financial Performance - The company's revenue for Q3 2025 reached ¥728,541,848.32, representing a year-on-year increase of 28.98%[5] - Net profit attributable to shareholders for the same period was ¥22,883,468.77, a significant increase of 215.97% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥20,719,141.94, reflecting a growth of 260.10% year-on-year[5] - Basic earnings per share for Q3 2025 were ¥0.0547, up 216.18% from the same period last year[5] - Total operating revenue for the first three quarters of 2025 reached ¥2,043,116,926.99, an increase of 11.7% compared to ¥1,829,804,833.94 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was ¥50,455,426.93, compared to ¥47,964,744.66 in 2024, representing an increase of 3.1%[20] - The company reported a basic earnings per share of ¥0.1190 for the first three quarters of 2025, compared to ¥0.1129 in 2024, indicating an increase of 2.0%[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥4,422,449,631.86, an increase of 8.44% from the end of the previous year[5] - The company's current assets totaled RMB 2,384,067,279.00, up from RMB 2,218,259,550.84, indicating an increase of about 7.48%[15] - The company's total liabilities were RMB 1,301,329,360.70, compared to RMB 1,054,204,676.09, reflecting an increase of around 23.42%[16] - The total liabilities as of the reporting date amounted to ¥1,447,810,193.90, an increase of 25.2% from ¥1,156,442,968.02 in the previous year[17] - The total equity attributable to shareholders of the parent company was ¥2,964,445,562.11, up from ¥2,913,071,675.37, marking a growth of 1.8%[17] Cash Flow - The company reported a net cash flow from operating activities of ¥111,367,991.63 for the year-to-date, which decreased by 31.81% compared to the previous year[5] - The net cash flow from operating activities for the first three quarters of 2025 was ¥111,367,991.63, a decrease of 31.8% from ¥163,327,877.79 in 2024[23] - The company generated cash inflows from operating activities totaling ¥2,057,258,086.47, compared to ¥1,963,890,798.83 in the previous year, an increase of 4.8%[23] - The company's cash flow from financing activities generated a net cash inflow of ¥83,535,048.89, compared to ¥155,980,445.67 in the previous period[24] - The company reported a net cash flow from investment activities of CNY 58,716,053.88 in 2025, compared to a negative cash flow of CNY -5,271,324.98 in 2024[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,339[10] - There were no significant changes in the shareholder structure or any related party transactions reported during the period[12] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥192,661,509.03, compared to ¥180,503,680.38 in 2024, reflecting an increase of 6.7%[19] - Research and development expenses for the first three quarters of 2025 were ¥7,703,590.00, slightly higher than ¥7,210,068.65 in the same period of 2024[29] Government Subsidies - The company recognized government subsidies amounting to ¥2,735,126.96 during the reporting period, contributing positively to the financial results[8] Inventory and Receivables - Accounts receivable increased to RMB 588,242,458.28 from RMB 544,183,364.39, marking a rise of about 8.09%[15] - Inventory levels rose to RMB 611,659,299.30, up from RMB 572,219,131.25, which is an increase of approximately 6.89%[15]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥160,784,908.30, representing a year-on-year increase of 33.12%[3] - Year-to-date revenue until the report period amounted to ¥494,936,539.41, reflecting a growth of 35.85% compared to the same period last year[3] - The total profit for the year-to-date period was ¥41,199,182.80, with net profit attributable to shareholders at ¥41,058,217.89[3] - Total operating revenue for the first three quarters of 2025 reached ¥494,936,539.41, a significant increase of 36% compared to ¥364,322,095.76 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was ¥40,737,685.06, recovering from a loss of ¥31,239,328.84 in the first three quarters of 2024[20] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥41,058,217.89, compared to a loss of ¥29,952,919.19 in the same period of 2024[21] - The net profit growth was attributed to increased operating revenue and a reduction in expenses[7] Assets and Liabilities - Total assets increased by 9.80% year-on-year, reaching ¥1,169,964,999.65[4] - Total assets as of September 30, 2025, are RMB 1,169,964,999.65, up from RMB 1,065,561,195.71[15] - Total liabilities increased to ¥395,128,038.26 in 2025 from ¥338,922,528.14 in 2024, reflecting a growth of approximately 16.5%[16] - Total current assets as of September 30, 2025, amount to RMB 784,517,666.90, an increase from RMB 693,479,645.12 at the end of 2024[14] - Short-term borrowings decreased to RMB 160,983,007.56 from RMB 169,211,830.29[15] - Total liabilities include accounts payable of RMB 96,638,904.51, up from RMB 89,490,281.25[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,530[10] - The largest shareholder, He Junqiang, holds 35,429,100 shares, representing 35.50% of total shares[12] - Shareholders' equity attributable to the company rose to ¥774,268,718.05, marking a 6.62% increase from the previous year[4] - Total equity attributable to shareholders of the parent company rose to ¥774,268,718.05 in 2025, up from ¥726,211,389.14 in 2024, marking an increase of about 6.6%[16] Research and Development - Research and development (R&D) expenses totaled ¥34,227,351.48 for the quarter, accounting for 21.29% of operating revenue, a decrease of 0.08 percentage points from the previous year[4] - Research and development expenses for the first three quarters of 2025 were ¥96,759,053.28, a decrease of 11.3% from ¥109,141,549.70 in the same period of 2024[19] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥28,054,764.37[3] - The company reported a net cash flow from operating activities of ¥28,054,764.37 in the first three quarters of 2025, a recovery from a negative cash flow of ¥45,419,465.93 in the same period of 2024[21] - The net cash flow from investing activities was -$75.83 million, a decrease compared to $43.26 million in the previous period[22] - Cash inflow from investment activities totaled $799.19 million, significantly higher than $89.44 million last year[22] - Cash outflow from investment activities reached $875.03 million, compared to $46.17 million in the previous period[22] - The net cash flow from financing activities was -$12.78 million, down from $44.56 million last year[22] - Total cash and cash equivalents at the end of the period were $49.50 million, a decrease from $123.15 million at the end of the previous period[22] - Cash inflow from financing activities amounted to $191.80 million, slightly lower than $208.60 million last year[22] - Cash outflow for debt repayment was $200 million, an increase from $138 million in the previous period[22] - The impact of exchange rate changes on cash and cash equivalents was -$404.83[22] Other Information - The company has no significant changes in the top ten shareholders or their participation in margin trading[12] - The company will not apply new accounting standards starting from 2025[23] - The company reported a significant increase in commercial vehicle business, contributing to the overall revenue growth[7] - Cash and cash equivalents decreased to RMB 49,587,592.30 from RMB 110,150,516.94[14] - Accounts receivable increased to RMB 310,000,707.19 from RMB 279,824,902.24[14] - Inventory increased to RMB 109,304,155.65 from RMB 73,566,404.16[14] - Sales expenses increased to ¥21,137,450.68 in 2025 from ¥19,265,632.74 in 2024, reflecting a growth of about 9.7%[19] - The company’s financial expenses decreased to ¥1,094,356.52 in 2025 from ¥1,931,561.54 in 2024, showing a reduction of approximately 43.4%[19]

Financial Performance - Revenue for the third quarter was CNY 643,160,745.08, a decrease of 16.61% compared to the same period last year[5] - Total profit for the quarter was CNY 28,002,000.48, down 54.13% year-over-year[5] - Net profit attributable to shareholders was CNY 20,235,616.33, reflecting a decline of 54.70% compared to the previous year[5] - The basic earnings per share for the quarter was CNY 0.019, a decrease of 53.66% year-over-year[5] - Total operating revenue for the first three quarters of 2025 was approximately CNY 2.23 billion, a decrease of 13.2% compared to CNY 2.57 billion in the same period of 2024[19] - Net profit for the first three quarters of 2025 was approximately CNY 112.30 million, a decrease of 53.0% compared to CNY 238.87 million in the same period of 2024[20] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.064, down from CNY 0.171 in the same period of 2024[21] - The company reported a total comprehensive income of approximately CNY 113.41 million for the first three quarters of 2025, compared to CNY 241.62 million in the same period of 2024[21] Assets and Liabilities - Total assets at the end of the quarter were CNY 5,743,140,242.33, an increase of 0.79% from the end of the previous year[6] - Shareholders' equity attributable to the parent company was CNY 3,023,050,596.16, a decrease of 1.12% from the previous year[6] - The company's current assets totaled RMB 1,995,467,697.94, up from RMB 1,804,458,969.26, indicating an increase of about 10.59% year-over-year[15] - The accounts receivable increased significantly to RMB 566,125,096.12 from RMB 291,238,382.36, representing a growth of approximately 94.38%[15] - The company reported a total liability of RMB 1,848,815,373.53, which is slightly higher than RMB 1,812,422,293.56 from the previous year, showing an increase of about 2.00%[17] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 33,387,660.96, down 92.65% year-over-year[5] - Cash flow from operating activities for the first three quarters of 2025 was CNY 33.39 million, a significant decrease compared to CNY 454.35 million in the same period of 2024[24] - Cash and cash equivalents at the end of the first three quarters of 2025 were approximately CNY 603.94 million, down from CNY 776.72 million at the end of the same period in 2024[24] - The company experienced a net cash outflow from investing activities of approximately CNY 54.22 million in the first three quarters of 2025, compared to a net outflow of CNY 50.72 million in the same period of 2024[24] Operational Challenges - The company faced significant challenges due to intensified market competition and reduced drug usage, leading to a substantial drop in sales prices and revenue[7] - The company incurred an administrative penalty of CNY 69,192,400 due to antitrust issues, impacting overall profitability[7] Strategic Initiatives - The company's net profit for the first nine months of 2025 is yet to be disclosed, but the financial statements indicate a focus on expanding product lines and market presence[18] - The company has successfully registered two products and received approval for one chemical raw material drug during the reporting period, enhancing its product portfolio[13] - The company plans to leverage its newly acquired drug production license to expand its market reach and enhance competitiveness in steroid products[12] - A loan of RMB 135 million has been approved for the company's subsidiary to support operational needs, with a term of three years[12] - The company appointed a new deputy general manager, indicating a strategic shift in management to support future growth initiatives[12] Cost Management - Total operating costs for the first three quarters of 2025 were approximately CNY 2.01 billion, a decrease of 11.7% compared to CNY 2.28 billion in the same period of 2024[19] - Research and development expenses for the first three quarters of 2025 were approximately CNY 90.35 million, an increase of 22.5% compared to CNY 135.81 million in the same period of 2024[20] - Sales expenses for the first three quarters of 2025 were approximately CNY 271.65 million, an increase of 36.3% compared to CNY 435.25 million in the same period of 2024[20] Inventory Management - The company has seen a decrease in inventory from RMB 651,915,382.71 to RMB 623,347,337.62, a reduction of approximately 4.39%[15]